Member Info for tonynorstrom1

"So only balanced they get some flak too." - so most wont have a problem with that except when you give them flak - its probably sensible as an investor to make sure the flak is justified and fair.

"Leading on perhaps, they should give time frames. Is it in 2yrs, 5yrs, when? and at what commodity price levels would it be more appropriate. Otherwise it's almost like an off the cuff statement."

Don't agree its an off the cuff remark - it was a response to a specific question and seeing that you are very good at joining the dots - I'm surprised that this response is not satisfactory. If I join the dots - it says to me that exploratory wells in this area are not a priority and perhaps they want to focus on bringing on production wells - after all you have been complaining about lack of growth in production - so should they not be focusing on this ?

"Clearly even at higher prices retained reserves were not being replaced, thereby confirming less was being made then what we were led to believe." - Is this correct - I suspect it is not ! Firstly what higher prices are you talking about ?? When they eventually made the Q1 announcement - it was clearly based on lower pricing than forecast. Secondly - did not aggressive spending on Capex play a role in retained earnings - I thought you were all for aggressive Capex spend.

Come on jolly - be fair !

Pete - pull your shorts back up for a minute mate and tell the wife to quiet down - read this from Sunbed44 on the AVFN BB:

MS had detailed meeting in Camaro office this week regarding the 12 month comms plan. He's signed up to InvestorMeet for 12 month contract and wants to use this as much as possible for PI comms. I think we will see quite a bit of him on this medium. II's gave no push back regards dividend cut and move to quarterly payment but he has been given a tough time from a lot of PI's HNW people. MA more confident than ever that the model to drill when commodity high and acquire when low is the way to go for i3E. Canacord involvement being ramped up to run investment media comms in Canada. MA conscious that comms not been as good as should have been to PI's and working on this with personal ownership. Wants time-bound measured quarterly updates moving forward, watch this space. Jason working his socks off to get over his hurdles for 3m shares but no idea what he is doing. I get impression all good with i3E BOD and management team and looking forward to the next few updates. X I think you may see your 18p a bit sooner than you think but I need more than that to B/E after selling half my holding and taking a very large capital hit although I had coined a bit from monthly dividend payments. No mention of court sign off or meeting parameters to be allowed to pay October dividend. But from the $100m it was mentioned vey clearly that we are extremely well funded at the moment so I personally do not see any dilution coming unless we acquire really big and get in to RTO and suspension territory. Hope this dump makes some kind to sense to you all no matter how you are trying to play your hands.

So Majid's off to play golf, Pistol Pete is planning to pull his shorts down again and let the missus have a good ole chuckle, i'll probably go for a game of darts and a few beers - what's everyone else got going on this weekend ?

Hey Pete - when the wife's stopped giggling - perhaps you can find time to explain your ramp comment - remember this BB is for sharing knowledge !

GGG - don't confuse opinions with fact. Facts are that when Doc Jones started covering i3e, Canada represented only about 5 or 6% of the outstanding share capital so very debatable on what effect he had on the SP in London. Not only that - he was virtually unknown outside of Canada and the LSE BB from what I could see and he bailed when the stock was only around 11p. The share price continued all the way up to over 30p so not many people appear to have followed his lead there !

I certainly directed a couple of people towards his research pieces particularly on i3e buts its a matter of record that I called him out publicly on his board a month or so later for dumping his stock secretly after heavily promoting i3e in the proceeding months . This kind of behaviour as well some of his SP projection being wildly off - and obviously so led me to reassess. So yes my opinion of him has changed somewhat - but that's normal and healthy - learn from your mistakes ! T

My problem with your comments GGG is not that you called it wrong (many of us get it wrong) but that you show no humility towards i3e's Management. To say repeatedly they are hopeless at PR and have no clue how to realize value suggests that you know how and I find it ironic that your previous master plan (aggressively drive up the dividend) shows that you have no clue either. In such a case I would be a little more circumspect with my comments / criticisms but that's just me !

For the record - what is you new master plan - what should they be doing ?

I particularly like the last part of your post - a lot more constructive than belly aching here particularly if you 're a shareholder.

" If you have genuine concerns then contact the company directly and post back their response."

https://zerogcos.substack.com/p/expecting-a-company-shake-up?utm_source=direct&r=70r5i&utm_campaign=post&utm_medium=web

This was a piece that was posted earlier - I thought it would generate a few more comments / discussions but it didn't. I dont agree with some of the data / conclusions but I did agree in part with the section on Company communications / updates. I emailed it to the Company (Majid confirmed receipt) and I highlighted the section on Company communications which I stated I had heard many others repeat and on which I was in partial agreement - that's how I roll.

IMO more constructive than having a good ole rant here !

"To avoid being left holding the bag, it is essential to do your research before investing in any stock. " - always - good advice !

"Be wary of VistaMan who is trying to pump a stock without any legitimate reason." I'm not sure of VistaMan's posting history / record - but taken at face value his post seems reasonable. Do you have an agenda bashing VistaMan ?

"I hadn't responded because unlike you I have a happy life of retirement to enjoy while you are still a pathetic wage slave tied to defending i3e with your spreadsheets that you have done all the way down from 30p. "

So you have time to post silly videos and trade insults but you don't have the time to share idea's / information about i3e including why you think the information on Athabasca was a ramp. I think genuine posters here would be appreciative if you would share you thought to aid in learning / understanding and help sort out the gold nuggets from the rabbit droppings - but I suspect you have nothing intelligent to add. Keep chuckling to yourself !

GGG,

Keep it factual GGG - I know its difficult.

1) I can give my thoughts about why we are down where we are and what we need to do to reverse it but I suspect you are not really interested.

2) "As for Doc Jones, anyone who was invested at this point in time knows he was the catalyst" - no they dont GGG - this is your take and I think its rubbish. I've never peddled him as an expert - I think some of his research is good but ive also said some of his maths way optimistic with respect to his share price projections (just check out his original report on i3e along with emo and GASX) - I also called him out for pumping i3e as "the best investment in the Oil and gas segment in the last decade and I mean that sincerely" and then dumping his stock in the middle of the night without telling anyone. He has also cost a lot of people a huge amount of money for many who followed into emo . So Doc still has his fans - but my impression is that his Halo is currently somewhere near his knees.

3) With respect to the dividend - i'm flabbergasted that you re still playing dumb and are pretending not to understand the point. You were very clearly pushing a very aggressive dividend hike and you used the words like "guaranteed" to drive the SP higher and its "not going to cost that much" !!! I think just about everyone now accepts they were too aggressive with the dividend and is the primary reason for where we are now and it did cost too much ! There are other reasons in my view but this is the biggie - cutting the dividend that you said should be even higher.

If you think i'm ramping - call me out on the specific ramp and ask me to justify - dont all of a sudden accuse me of ramping just because i'm calling you out for what imo are emotional rants.

You come across as quite bitter Pete and I can imagine why your wife is having a good old chuckle. It wont have gone unnoticed here that you called the Athabasca posts a ramp and yet you have declined to justify why.

Posters here will have also noticed that I am more than prepared to respond to any reasonable questions - just ask

Don’t sell yourself short GGG - you are doing a pretty good job of talking I3E down.

You also do good job of drawing conclusions from random events / occurances and passing them off as fact. For example - “people forget that the1st rerate was due to Doc Jones”. Posters can make their own mind up about that but personally I think your talking a load of tosh. Was it Doc Jones - or was it because i3e bought a great set of assets at the

Bottom of the cycle - I’m going with the latter.

Your also also repeat over and over again (and again). - how I3E Management have no idea about how to close the valuation gap. I don’t think many here will have forgotten that you suggested driving up the dividend aggressively - guaranteed I recall you saying for only …that has failed spectacularly and so I don’t think you are in any position to criticize Management - certainly not from a position of calling things correctly.

They should get you on the PR Team GGG and help drive the SP lower - then someone can come in and buy even cheaper !

Jim or Louis10 - whatever you prefer to be called:

"This approach rarely works with these micro caps." Perhaps you would care to expand on this and explain - i'm sure many here would be interested . What "approach" are you talking about and why does it not work with specific reference to i3e.

this is the problem that most posters have with you not just on this BB but pretty much every one you post on particularly PANR and PRD - you often talk in generalities, show a reluctance to expand on any of your comments which are usually so vague and bereft of any point that you can always claim you are right when that's usually not the case.

But please explain - i'm genuinely interested.

Jim - I see you got quite a bit of stick from many posters on PANR and PRD over the last couple of days. Not quite as popular as you thought hey - bit like a sh@t on the bottom of ones shoe I would say !

Posted yesterday courtesy of one of your friends on the PANR board:

https://twitter.com/Adz_UK22/status/1635704491755307008?s=20

https://www.youtube.com/watch?v=ruGXScIF-5A

From i3e's 29th June Q1 update:

USD 75 million - 80 million

Using i3e's production guidance and running WTI at actual plus $81 to the end of the year and then AECO at CAD 2.60 for Aug, CAD 2.80 for Sept and CAD 3.00 for the balance of the year - I have FY NOI at:

$96m (tentatively $50m H1 and $46m H2)

Their production guidance was for full year and no guidance for Q2, Q3 & Q4.

Major Maintenance was scheduled for May / June so Q2 could be quite rough and the NOI could be a little lower in H1 v H2 - we'll need to see what the Q2 update looks like.

With Oil currently at S84 and AECO looking like it might be coming back to life- NOI could well exceed $100m for the year - but lets not get ahead of ourselves !

Pistol Pete - I noticed you did not respond to the question on the Athabasca Ramp as you called it - surely you should elaborate on that otherwise posters would have to conclude you were guilty of deramping - correct ?

Thanks for the numbers GreyPanther - will be interesting to follow the watercut - do you have a link to the data - I went onto the site and could not find the field or the well.

thanks

WCSBCanuck - the easiest bit of any decent analysis is selecting the correct numbers. Step 2 and slightly trickier is then coming up with a logical analysis.

Your post fails at step one and then gets worse from there.

Give it another go Son and don't let the facts get in the way of a good ruse !

Thanks for that Keith - not sure though that Hurricane is the best example of water cut issues - from recollection (though I stand to be corrected) their main issues stemmed from being able to extract Oil in the first place from "fractured basement reservoirs" and not specifically water cut which was present in their single production well which seemed to perform satisfactorily.

Keith,

Slightly off topic but still a question that might be of interest to some from a purely educational stand point - Europa Oil & Gas are producing oil from the Wressle Field (onshore uk) at around 700 -800 bopd (30% share). Its been producing for about 18 months - 100% oil up until the last month or so when they started to see water (just over 3%). Do you have any information / reference to show how the watercut may increase over time for a typical well if there is such a thing as a typical well.

Https://wp-i3energy-2021.s3.eu-west-2.amazonaws.com/media/2023/07/i3-Energy-Corporate-Presentation-July-5-2023.pdf

GGG was asking about the production out of Simonette - it's already incorporated in the latest presentation for all area's - check out page 15 for Simonette (pity i didnt see this earlier before I sent in the question to i3e)

2300 boepd v 2900 for the Athabasca Assets - more importantly:

56% liquids v 44%

51% oil / Condensate v 33%

So current production is significantly more Oil rich than that of the Athabasca Assets making them potentially more valuable. Also of note it that the last well in South Simonette was around 66% Oil/Condensate.

For balance I should add that I did see one poster stating that the Athabasca/Montney Acreage does has some acreage / wells that are Oil weighted but I personally have not seen any hard numbers / data - I can only go off the last press release.

I believe these are transfers of either inactive or marginal gas wells to Axiom Energy. This would not be the first transfer of its kind to Axiom - I recall i3e transferring 60 plus wells previously. These may even be in the Clearwater - I3e have clarified previously that only the gas rights have been sold off and that i3e maintain the rights to any liquids in other formations within the same fields.